By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Oil marketing giant, Mobil Oil Nigeria Plc said on Wednesday its first quarter (Q1) pretax profit for the period ended March 31, 2015 declined 56.6 percent to N2.06 billion from N4.74 billion reported a year earlier.

Similarly, profit after tax (PAT) dipped by 61.5 percent to N1.48 billion from N3.86 billion in the Q1 of 2014.

Revenue also decreased from N22.41 billion in the first quarter of 2014 to N16.49 billion in the review period of 2015; showing a drop of 26.4 percent.

Share price of Mobil at the end of transactions on the Nigerian equities market climbed up by 3.18 percent to N152.00 from N150.03 recorded previously gaining N4.63 per share.